Just starting out on the iva route, returned all our gathered information at the weekend and today in the post we got the first 2 letters saying that they hadn't been able to collect this months payments - we've stopped direct debits - and to make alternative arrangements to pay them. We've always made our payments on time so I'm finding this very uncomfortable. One of our card issuers, whose payment isn't due until later in the month, rang the week before last to tell us that we were only making minimum payments (like we didn't know) and asked if we wanted to increase our payments. What are they going to be like when their payment is missed?
I don't know how we're going to cope with all of this, I feel so guilty about it all.
We've all been there, and it isn't very nice. They do make you feel ashamed, but don't be, you are doing something to address your problems and hopefully it will be sorted soon.
Your chosen company will be writing to your creditors to inform them what is going on.
You can write to them yourself and just explain that you are trying to sort things out.
If they have your number, they will phone and will try to bully you into making a payment. Don't let them! Be polite and refuse because you can't afford it, or don't answer the phone.
Don't let them get to you, and come on here anytime you want to sound off.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
Like Jan says we've all been there - we never missed a payment until we started the IVA process. The calls will come and some of them will be persistent, just politely tell them you are entering an IVA and give them IP's details.
If you can't face the calls - ignore them, take your phone off the hook or get someone else to answer and say you're not available. Whatever it takes to get through it, do it and like Jan says come on here for support.
You are working towards getting your creditors repaid. This is something to be proud of, and each day gets a little nearer to getting the matter settled. Do try and not worry too much about letters and calls from creditors - they are unlikely to make much difference to the end result, and just send your letters on to your IP firm to deal with for you.
Thanks for your replies, I'll get the letters forwarded on.
I try not to panic but every so often I feel it welling up and there's no way that I can stop it. Even just reading other posts here does make me feel like we're not alone. I will do everything in my power to make this a success if it gets approved, and will pay back every penny I possibly can, but I can't get over the guilt and shame. Not made any better when a colleague tells you they drew out £hundreds spending money for their holiday, left their purse in a shop - which they later got back, complete with money - and tells you if it had gone well, it was only money!!!
Sorry to be a pain and thanks for your ears and support.
I listen to people at work discussing their holidays, and spending loads of money on designer clothes - well it is only money! I have to bite my tongue.
When you have always paid your way, it is hard to suddenly not have the money to pay a bill.
If your IVA is approved, the relief is tremendous and you need never worry about the creditors again!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
kallis3 wrote:
I listen to people at work discussing their holidays, and spending loads of money on designer clothes - well it is only money! I have to bite my tongue.
When you have always paid your way, it is hard to suddenly not have the money to pay a bill.
If your IVA is approved, the relief is tremendous and you need never worry about the creditors again!
Aye but how many credit card bills do they receive a month??
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
These people are probably just tomorrow's next insolvency statistic so take no notice and just concentrate on what is important to you and your family.
And you are getting great support on the forum, so do make sure you log on once a day so we can make sure that you are OK.
Hey Pap - know exactly how you are feeling but try not to worry. We have just sent off our signed proposals and so hope to have our creditors meeting at the end of this month. We started the process back in October and the phone calls (all of which I personally have not answered - my hubbie takes them when they call him and they have all been fine actually) and letters just dont stop...the ones with debt collector/solicitor type letterheads freak you out but again its just the creditors killing off a few more trees and all part of the default process. I'd like to say it all feels great at the end but I'm not there yet. At the moment, like you I just have a sense of guilt, panic and trepidation...will our IVA now be approved...what challenges will the next 5 years throw at us if it is all approved okay. Debt, whatever the circumstances that led you to be in it, is a terrible thing to have to experience..but as I keep telling myself it's not the worst that can happen to us and at least we are trying to do our very best to make things right. Good luck Pap and keep posting on here - the support on here is tremendous! Fi x
Still gathering info....but hope to be on the right path pronto!!
Plastic - they probably get loads, but when one of them lives in a house bought by mum and dad (they pay minimal mortgage) and parents are worth a fair bit, you know they're never going to be in the same position as me!
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley. http://kallis3.blogs.iva.co.uk
pap im checking youre ok hun. please stop worrying you are with an amazing company and i know they will do their damnest to sort you out.
listen i still get rubbish mail sent to me and im in an iva !
i just send them on to mel-do the same.
you should be proud of yourself. what youre going through is terrifying-ive been there-crying,sleepless nights but you are making it all good because youre underway to getting it sorted and you should feel good. IGNORE the idiots bragging about their 'money'-all borrowed no doubt. you are a success because youre being sensible and strong and ARE getting back on track. we all care about you pap and you have ALL of our support. dont give up hun youre so nearly there luv FD X
Hi Pap , as the others have said , we have all been there. its tough but for us a huge weight was lifted off our shoulders when we started our iva . ashamed to say we had 110k of debt . we had 3 kids in 3 years , 3 lots of maternity pay, and we lived on credit cards ! our debt was more than our mortgage . still makes me feel sick when i think about it . we just didnt realise what a mess we were in . but we started our iva in 2005, and dont get me wrong its been tough but there is light at the end of the tunnel. its nice to know we got thru xmas , 4 kids , 3 of them under 5 and came out the other side debt free . ok so we havent got a flat screen hd ready tv , ( which my husband would love ) but we also havent got any debt( exc iva ) and i can sleep easy at night .
so chin up , ur not on your own . it does get better
Hi Pap,..as you can see,we've all been where you are at the moment and I promise that things will get better for you...please don't feel guilty, feel proud of yourself for sorting your debt situation out!!..I admit,it is horrible to start with,all the guilt,sleepless nights,crying and having all the calls and post to deal with,I remember it all very well,having only had our IVA accepted in Nov 08...but just remember that we are all here for you during this process,anything troubling you,there's always someone here who will be able to help you...you're not alone anymore...take care..xx
IVA accepted 13/11/2008..17 payments down,55 to go..
Hi - you may find it easier to do what i did and beat them to calling you, by calling them first - for a lot of the creditors it really helped as i never got letters or calls. Some are not very helpful though, but you'll find that out anyway. Good luck.
Ignore the letters - don't even open the envelopes - simply send them to your IP for them to deal with - as to the phone calls - don't verify any of the data protection details that way they cannot talk to you about your account !
Sharing from experiences of dealing with debt
There is a solution for everyone .... Just need to stay positive !
